Emmis Acquisition (NASDAQ:EMIS) Trading Down 0.1% – Should You Sell?

Emmis Acquisition Corp. (NASDAQ:EMIS) traded down 0.1% on Friday . The stock traded as low as $10.18 and last traded at $10.17. Approximately 15,575 shares changed hands during mid-day trading, The stock had previously closed at $10.18.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Emmis Acquisition in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Emmis Acquisition currently has a consensus rating of “Sell”.

Emmis Acquisition Trading Down 0.1%

The company has a fifty day moving average of $10.13.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Periscope Capital Inc. purchased a new stake in Emmis Acquisition in the fourth quarter worth approximately $3,049,000. Wolverine Asset Management LLC purchased a new position in shares of Emmis Acquisition in the 4th quarter worth $4,876,000. Yakira Capital Management Inc. bought a new position in shares of Emmis Acquisition in the 4th quarter worth approximately $1,251,000. Mint Tower Capital Management B.V. purchased a new stake in shares of Emmis Acquisition in the fourth quarter worth $4,975,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Emmis Acquisition during the 4th quarter valued at $1,563,000.

Emmis Acquisition Company Profile

We are a blank check company incorporated as a Cayman Islands exempted company whose business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us.